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Home My WebLink AboutFinance and Administration Advisory Board 1993Woking Together for Tomorrow's Greenspace the metropolitan toronto and region conservation authority minutes C1 MARCH 5, 1993 FINANCE AND ADMINISTRATION ADVISORY BOARD #1193 The Finance and Administration Advisory Board met in the Humber Room, Head Office, Friday, March 5, 1993. The Chair, Richard O'Brien, called the meeting to order at 8:40 a.m. PRESENT ABSENT MINUTES Res. #F1/93 Chair Richard O'Brien Vice -Chair Patrick Abtan Members Maria Augimeri Eldred King Peter Oyler Jim Witty Chair of the Authority William Granger Members Brian Harrison Frank McKechnie Moved by: Seconded by: THAT the Minutes of Meeting #6/92 be approved. DISCLOSURE OF INTEREST Eldred King Jim Witty CARRIED Marie Augimeri declared a conflict, as her husband is an employee and Chair of the Board for the Workers' Compensation Board, in Item 3, herein, 1993 Financial Progress Report No. 4, December 31, 1992, and did not vote on this item. PRESENTATION Paul J. Heffernan, Partner, Ernst & Young, gave a presentation to the Board on the December 31, 1992, Financial Statements. C2 FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 1. 1993 BUDGET Operating and Capital KEY ISSUE This report recommends the 1993 Operating and Capital Budget. Res. #F2/93 Moved by: Seconded by: THE BOARD RECOMMENDS TO THE AUTHORITY: THAT the 1993 Operating and Capital Budget be adopted; AND FURTHER THAT the following action be taken: Marie Augimeri Peter Oyler (1) All current projects included in the 1993 Operating Budget be adopted; (2) Whereas the Conservation Authorities Act provides that for the carrying out of any project, an Authority shall have the power to determine the portion of total benefit afforded to all municipalities that is afforded to each of them, The Metropolitan Toronto and Region Conservation Authority enacts as follows: (i) That all member municipalities be designated as benefiting for all current projects included in the 1993 Budget; (ii) The Authority's share of the cost of the current projects included in the 1993 Budget shall be raised from all member municipalities as part of the 1993 general levy; (iii) The 1993 general levy for current programs be apportioned to the participating municipalities in the proportion that the equalized assessment of the whole is under the jurisdiction of the Authority, unless otherwise provided in the levy or a project; (iv) That the 1993 general levy for the operation, maintenance and development of the Conservation Areas, Black Creek Pioneer Village and the Kortright Centre for Conservation be in accordance with the funding formula adopted by the Authority at its meeting #8188 held on December 2, 1988 as follows: Township of Adjala Regional Municipality of Durham The Municipality of Metropolitan Toronto Township of Mono Regional Municipality of Peel Regional Municipality of York 0.000064 0.031996 0.606928 0.000054 0.162981 0.197977 1.000000 (v) The appropriate Authority officials be instructed to advise all municipalities pursuant to the Conservation Authorities Act and to levy the said municipalities the amount set forth in the 1993 Budget for current programs; FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 C3 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 1. 1993 BUDGET (CONTD.) Operating and Capital (3) The 1993 Capital Budget and the 1993 capital levy for projects included therein be adopted by the Authority with the following action being taken: (a) All member municipalities be notified of the amount of such monies they are required to raise in 1993 on the basis set forth in the 1993 Capital Budget for: (i) Conservation Area Development Project, 1993; (ii) The Greater Toronto Region Trail System Project, 1993; (b) The Municipality of Metropolitan Toronto be levied for: (i) Valley and Shoreline Regeneration Project, 1993; (ii) Project for the Dredging of the Keating Channel, 1993; (iii) Lake Ontario Waterfront Regeneration Project, 1993; (iv) Project for the Acquisition of the Canada Post Property, 1993; (v) Project for Etobicoke Motel Strip Waterfront Park, 1993, subject to the attainment of all required project approvals; (vi) Conservation and Recreation Land Acquisition Project within the Municipality of Metropolitan Toronto, 1993; (vii) Don Valley Brickworks Regeneration Project, 1993, subject to the attainment of all required project approvals; (c) The Regional Municipality of Durham be levied for the Lake Ontario Waterfront Regeneration Project, 1993; (d) The Regional Municipality of Peel be levied for The Project for Flood Protection - Little Etobicoke Creek - Tyndall Nursing Home, 1993; (e) The Regional Municipality of York be levied for the Valley Regeneration Project,1993; (f) The appropriate Authority officials be instructed to advise all municipalities pursuant to the Conservation Authorities Act, and to levy the said municipalities the amounts set forth in the 1993 Capital Budget. (4) Except where statutory or regulatory requirements provide otherwise, staff be authorized to enter into agreements with private sector or government agencies for the undertaking of projects which are of benefit to the Authority and funded by a sponsor. CARRIED BACKGROUND Budoet Process The Authority's 1993 Budget process began in June of 1992 when Budget guidelines were adopted and Authority staff began work on project files for the Ministry of Natural Resources and preliminary estimates for each Division. Management review of proposed expenditures and revenues was completed early in September. The Preliminary Estimates were approved by the Authority in October, 1992. C4 FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 1. 1993 BUDGET (CONTD.) Operating and Capital The information requirements of each of the Authority's member municipalities and the Province are different. Budget information used for Authority purposes is reformatted to meet the individual requirements of our funding partners and submitted to them as required under each organization's budget schedule. Meetings take place in the period November through February with member municipalities and the Ministry. The Authority's budget process is further complicated by the fact that Ministry funding is distributed amongst several different programs under which various rules apply. In effect, the Authority is restricted as to how money in various "pockets" can be spent. The process of matching grant money in various pockets to municipal levy and other revenue for both capital and current purposes has become increasingly involved. In 1989, the Authority entered into a new funding arrangement with the municipal funding partners which involved a different calculation of municipal levy distribution on recreation programs and, to ensure equity, required the application of a special allocation from the Authority's reserves. 1992 was the last year of this special reserve application. It is anticipated that 1993 will be the last year of abnormally high increases in the recreation levy for the Regions of Durham, Peel and York. ANALYSIS See the Chief Administrative Officer's Comments section contained in the 1993 Budget document. 2. 1992 AUTHORITY FINANCIAL STATEMENTS KEY ISSUE The 1992 Financial Statements of the Authority are presented for the Finance and Administration Advisory Board's approval and recommendation to the Authority. Res. #F3/93 Moved by: Seconded by: Marie Augimeri Peter Oyler THE BOARD RECOMMENDS TO THE AUTHORITY THAT the transfer of funds into and from reserves during 1992, as outlined in Statement 3 of the Financial Statements, be approved; AND FURTHER THAT the 1992 audited Financial Statements, as presented, be approved, signed by the Chairman and Secretary- Treasurer of the Authority, and distributed in accordance with Section 38 (3) of the Conservation Authorities Act. CARRIED FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 C5 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 2. 1992 AUTHORITY FINANCIAL STATEMENTS (CONTD.) BACKGROUND The 1992 final Financial Progress Report, which provides detail on variances from budgets was presented (see Appendix FA.1/93). ANALYSIS With the adoption of the Financial Statements, the Authority will be approving the transfer from reserves to surplus a net amount of $551,983, as follows: • From Reserves: Recreational Development and Restoration $42,590 Lakefill Quality Control 92,332 Provincial Revenue Sharing Policy 372,378 Food Service Equipment 13,749 Vehicle & Equipment 40,934 561, 983 To Reserves: Major Office Equipment 10,000 $551,983 The transfer of funds to /from the Provincial Revenue Sharing Policy Reserve is explained in Note 2 to the financial statements. As at December 31, 1992, the balance in the Recreation Development and Restoration Reserve is $800,893, which amount has resulted from the following transactions: Revenue: 1992 1991 Rent from Lease Agreements: • Wild Water Kingdom $328,576 $463,052 • Claireville Equine Operation 8,081 9,195 • Etobicoke Board of Education 11,375 • Other 6,001 • Interest 53,280 90,960 407,313 563,207 Expenditures: • Legal, Survey, etc. 17,451 12,121 • Recreation Formula Allocation 202,542 380,332 • C.F.G.T. Fund Raising 100,000 160,000 • Claireville Education Centre 93,086 • C.A. Development 476 104,337 • B.C.P.V. Workshop 36,348 61,601 449,903 718,391 Decrease in reserve (42,590) ($155,184) Balance, Beginning of Year 843,483 998.667 Balance, End of Year $800,893 $843.483 C6 FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 SECTION 1 - ITEMS FOR AUTHORITY CONSIDERATION 2. 1992 AUTHORITY FINANCIAL STATEMENTS (CONTD.) All other transfers to /from reserves are in accordance with the guidelines established for the use of reserve funds. The notes to the financial statements provide greater detail. The accumulated deficit of the Authority, which stood at $ 169,481 as at December 31, 1991 has been reduced to $85,416 as at December 31, 1992 as a result of the 1992 surplus of $84,065, net of reserve allocations. 3. 1992 FINANCIAL. PROGRESS REPORT NO. 4 KEY ISSUE This is the final 1992 Financial Progress Report. Res. #F4/93 Moved by: Seconded by: Jim Witty Bill Granger THE BOARD RECOMMENDS TO THE AUTHORITY THAT 1992 Financial Progress Report No. 4, dated December 31, 1992, Appendix FA.1/93 be received; CARRIED BACKGROUND As part of the ongoing financial management program, staff provide four Financial Progress Reports detailing year -to -date expenditures and revenues as well as projections for the year with budget comparisons. Also, included in this report pursuant to a policy approved by the Authority in June of 1992, is the approval of the accounts for the period indicated. ANALYSIS The final Financial Progress Report of 1992 describes the variances from budget which account for a year -end surplus of approximately $84,100. This amount has been applied to reduce the corporate deficit from $169,481 at the end of 1991 to $85,416 as noted in the report on the 1992 Financial Statements which is dealt with elsewhere in the agenda. Details of the variances are explained in the notes to the Financial Progress Report. FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 C7 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 4. WASTE MANAGEMENT REPORT KEY ISSUE Responding to Metropolitan Toronto's request that the Authority review its "waste management practices to ensure that waste generated at our facilities is not exported for disposal ", and further that the Authority "report back to Council through the Works Committee in six months time, on policies enacted and practices followed to implement the request to review our waste management practices, including financial implications ". Res. #F5/93 Moved by: Seconded by: Eldred King Patrick Abtan THE BOARD RECOMMENDS TO THE AUTHORITY THAT the staff report on waste management be received; CARRIED BACKGROUND In May, 1992, the Authority awarded tenders for solid waste disposal, including recycling, for the period June 1992 to March 1994. Five major licensed waste management firms were awarded contracts based on the lowest price to haul solid waste and recycled material from eighteen Authority locations, using front -end overhead bins, roll -off containers and specialized recycling bins. Discussions with these companies indicated that some of the Authority's solid waste from overhead containers is transferred to licensed landfills in the United States. The contractors, to be competitive, export industrial, commercial and institutional (ICI) waste beyond the Metropolitan Toronto area to avoid the higher landfill fees and export has provided a lower cost option. The present regular waste disposal contract costs are based on a per lift fee for overhead bins, ranging from $34 to $72, depending on bin size and location. Roll -off container costs include per lift fee of $90 to $ 147, depending on bin size and location, plus landfill tippage fees of $ 152.25 per tonne. ANALYSIS To guarantee waste from Authority sites is not exported requires that it can be tracked from generation site to disposal site. Under the present contracts for those locations using roll -off containers (20 and 40 cubic yard bins) waste is taken to Regional landfill sites and is verified by weigh bills. A total of 24% of Authority waste is presently hauled by this method. It. is the material from locations with overhead containers (2,4,6 and 8 yard bins) that is picked up by contractors and mixed with other ICI pickups on a given route that may be exported through private transfer stations. C8 FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 4. WASTE MANAGEMENT REPORT (CONTD.) The easiest and most practical method to ensure no waste is exported would be to use roll -off containers for all Authority sites. These can then be "dedicated loads" to Regional landfills and verified with landfill weigh bills. Discussion with our contractors has indicated that this method is the only feasible solution. The Authority's low volume of waste, especially in the off season for Conservation Areas and the wide- spread operation would make it very difficult to dedicate a truck for an overhead container system. The present collection system, which combines overhead containers and a limited number of roll -off containers, (five locations) involves minimal staff labour at locations with public visitation. The public is provided with garbage bags and asked to use the overhead containers placed at convenient locations throughout the Conservation Areas. This system has developed over the last few years and the public has responded positively. It has allowed staff to eliminate hundreds of 45 gallon barrels scattered throughout the Areas as well as hours of labour in the collection and handling of loose garbage and maintenance of barrels. The past practice involved staff, with a tractor and trailer, spending two to three days collecting garbage after a weekend. The present overhead container system has greatly reduced and in some cases, eliminated this unsanitary and labour intensive practice as well as reducing the Authority's risk of work related injuries. To change from the present waste disposal system to a system of roll -off containers to be hauled as dedicated loads will necessitate considerable change in on -site handling of waste. Even using the smallest size of roll -off container (10 cubic yard), volumes generated at some locations are too small to fill a container within a reasonable time to avoid creating sanitary problems. It will therefore be necessary to reduce the number of sites from which waste is picked up. The present 18 locations with year -round collection would be reduced to seven year -round and three peak season sites (see following, Schedule A). Additional staff time and vehicles will have to be dedicated to the pickup and transfer of waste to the closest collection centre. For some locations, eg., Head Office and field centres, this may mean daily collections and transfer. For other locations, eg., conservation areas, introducing a new method will require some public education as well as staff time in transferring waste internally and /or to the nearest collection site. The revised container system will eliminate the placement of containers in locations convenient to public use areas and will require a return to some form of garbage barrel collection system. Choices range from the old style 45 gallon reused barrel to more sophisticated small containers suitable for mechanized pickup and emptying. Regardless of the site container used, staff will be required to revert to the practice of internal garbage pickup and transfer to roll -off containers. FINANCIAL DETAILS Changes to the Authority's waste disposal to ensure waste is not exported, will have a financial impact. Regular waste volumes handled by our contractors were examined in detail for the years 1991 and 1992 and averaged for eighteen locations to obtain a base comparison figure. The volumes were obtained by reviewing invoices and multiplying container lifts by container size (cubic yard) for each location. FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 C9. SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 4. WASTE MANAGEMENT REPORT (CONTD.) Weight of regular waste was determined by examining invoices and landfill weigh bills for the five locations using roll -off containers. The weight of each lift at each location was averaged over 24 months to determine an averaae weight per cubic yard of waste generated specific to Authority operations. This average weight was applied to the total volume generated at all Authority locations, to determine the average weight of material that is directed to landfills. In the past two years total regular waste generated was: VOLUME /COST ANALYSIS: ACTUAL Total volume Total weight DISPOSAL COSTS 1991 7,244 cu. yds. 622.98 tonnes $ 89,785. 1992 5,645 cu. vds. 485.47 tonnes $ 61,350. TOTAL 12,889 cu. yds. 1108.45 tonnes $151,135. AVERAGE 6,445 cu. yds. 554.22 tonnes $ 75,567. Each of the eighteen locations generating waste are also actively involved in the Authority's ongoing recycling program. A variety of recycled material including fine paper, newspapers, glass, metal cans, plastic and wood is presently collected and sorted by staff and transferred to licensed recycling facilities by .our waste contractors or directly by staff. The volume of recycled material for 1991 and 1992 was 1403 and 956 cubic yards respectively. The cost to have our contractors dispose of recycled materials for 1991 was $5,850 and for 1992 was $8,250. To implement the revised disposal system many combinations of onsite equipment are available. To compare a revised disposal system with the current system, staff examined in detail two operational options. Option 1: Replace present overhead bins supplied by contractors, with a combination of garbage bags and barrels and short term retention compounds as required at each of the eighteen waste generating locations. This options requires the least capital outlay, requiring only construction of retention compounds. Operational changes to handle site pickup make this option more labour intensive than the present system, which increases risk of worker injury. It is Tess sanitary, with more opportunity for spillage by animals and general appearance of garbage barrels is Tess aesthetically pleasing. Option 2: Purchase one Haul -All side loading, rear dumping compactor complete with the appropriate number of compatible self - loading refuse containers from the Haul -All Equipment System. These would replace the overhead bins supplied and serviced by our waste contractors. This option requires the greatest capital outlay. It is highly mechanized thereby reducing labour cost, is more sanitary as containers are Tess vulnerable to animal spillage and containers are more attractive and require Tess maintenance. Both the above Options use centralized roll -off containers for transfer to landfill which will increase basic disposal costs. Each container is subject to a lift fee ($125/lift) plus landfill tippage fees at $152.25 /tonne. Based on the average volume and tonnage of the past two years, disposal costs will be $114,600 compared to present system cost of $75,600. C10 FINANCE AND ADMINISTRATION ADVISORY BOARD #1 /93, MARCH 5, 1993 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 4. WASTE MANAGEMENT REPORT (CONTD.) Additional Operational Costs Option 1: Additional operational costs include staff time and vehicle chargeback incurred to transfer waste from various sites to collection locations, using existing Authority vehicles. The rates are based on labour at $15.00 /hour, vehicle chargeback at $20.00 /hour for a total of $35.00 /hour. Based on analysis of time required, costs for transferring waste to collection sites would be $17,400. In addition to transfer costs, there would be an annual cost increase for garbage bags, of approximately $5,600 and seasonal staff cost increases to handle collection process at eight conservation areas from May 15 to September 15 (17 weeks) of approximately $2,540 per area or $20,300. The total estimated operational cost increase for Option 1 is $43,300. Option 2: It is estimated that five days would be required to service all eighteen locations during the peak season with Haul -AII equipment system. This truck would carry out site pickup and transfer to roll -off container locations or may go directly to regional landfills. Costs are based on labour at $15.00 /hour and vehicle chargeback at $25.00 /hour for a total of $40 /hour. During the peak season (May 1 to Sept. 30), 1 truck for 5 days at 8 hours a day, $40 /hr. for 20 weeks would cost a total of $32,000. During the off - season, one day per week would handle the volume at an estimated cost of $10,200. The total estimated operational cost increase is $ 42,200 for option 2. Capital Costs Option 1: To replace present overhead containers with suitable roadside collection compounds and /or storage bins for pickup and transfer to roll -off containers require an estimated capital expenditure of $18,500 for 1993. Option 2: To implement a Haul -All Equipment system, the capital cost is based on obtaining one model 14, side loading refuse collection truck complete with hydraulic dumping system at $55,000. To provide site collection, 44 - 4 cubic yard HYD -A -WAY selfloading containers at $4,350 each are required for a total of $191,400. The total capital cost required for this Option is $246,400. The life expectancy of the truck under restricted use is 10 years and the containers 25 years. FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 C11 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 4. WASTE MANAGEMENT REPORT (CONTD.) Financial Summary Costs Present System Option 1 Option 2 Overhead waste containers 49,600 Roll -off Container lift fees ($125 /lift) 5,800 30,250 30,250 Landfill tippage fees ($152.25 /tonne) 20,200 84,350 84,350 Subtotal: 75,600 1'14,600 114, 600 Operational Increases 43,300 42,200 Total Operating Costs: 75,600 157,900 156,800 Capital Costs Total: 75,600 18,500 246,400 176,400 403,200 Option 1 represents an increase of $100,800 over the present waste disposal system. Option 2 represents an increase of $327,600. CONCLUSION There is no doubt that the current waste disposal system is the most economical and is the basis on which the 1993 budget has been prepared. It is however inappropriate for the Authority to have some of its solid waste, even indirectly, hauled to the United States disposal sites. To make the necessary operational change to ensure waste is not exported, will have significant financial impact which cannot be accommodated given the constraint placed on 1993 budgets. These changes would need to be accommodated in preliminary budget planning and this should be included in 1994 budget. Schedule A AUTHORITY SOLID WASTE MANAGEMENT DEDICATED LOAD PROGRAM Year Round Collection Sites Peak Season Sites Transfer Only Sites Albion Hills CA Glen Haffy CA Albion Hills Field Centre Boyd CA Boyd Field Centre Conservation Services Central Services Kortright Centre Bruce's Mill CA Lake St. George Field Centre Greenwood CA Petticoat Creek CA Claremont Field Centre Frenchmen's Bay Heart Lake CA Indian Line Campground Black Creek Pioneer Village Head Office C12 FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 5. APPROVAL OF ACCOUNTS October, November, December 1992 KEY ISSUE Request for approval of the accounts for October, November and December 1992. Res. #F6/93 Moved by: Seconded by: Jim Witty William Granger THE BOARD RECOMMENDS TO THE EXECUTIVE COMMITTEE THAT expenditures for the months of October, November, December of 1992, in the amount of 523,340,700 be approved. CARRIED ANALYSIS The accounts for the period are higher than usual because of the acquisition of Canada Post at a cost of almost $15 million. SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 6. ACCOUNTS RECEIVABLE STATUS REPORT February 7, 1993 KEY ISSUE Staff report on accounts receivable as of February 7, 1993. Res. #F7/93 Moved by: Seconded by: Marie Augimeri William Granger THAT the report on accounts receivable of the Authority as of February 7, 1993, be received. AMENDMENT Moved by: Marie Augimeri Res. #F8/93 Seconded by: William Granger THAT the interest on the outstanding bill, if not already paid, to the School Boards, be forgiven. FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 C13 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 6. ACCOUNTS RECEIVABLE STATUS REPORT (CONTD.) February 7, 1993 ON A RECORDED VOTE YEA NEY Marie Augimeri Patrick Abtan William Granger Eldred King Richard O'Brien Peter Oyler Jim Witty THE AMENDMENT, ON A RECORDED VOTE, WAS NOT CARRIED THE MAIN MOTION, WAS BACKGROUND CARRIED At its meeting #3/91 the Board requested that for each of its meetings staff report on the status of the Authority's receivables. ANALYSIS Total receivables of $277,844, are at the lowest level since June of 1991 (see schedule below). The balance of receivables one year ago was $750,801. The 90 -day category has decreased from $89,378 on December 31, 1992, the date of the last report, to $58,454. The schedule below summarizes the status of receivables including aging and classification. The schedule excludes $5,281 in accumulated interest arrears on overdue invoices. ACCOUNTS RECEIVABLE AGING, BY CATEGORY (Excluding Municipal Levy and MNR Grant) As of February 7, 1993 Receivable balances as reported on each of the previous reports to the Board are presented below: CURRENT 31 TO 60 DAYS 61 TO 90 DAYS 90 PLUS DAYS TOTAL Schools and School Boards 37,521 37,030 30,170 9,786 114,507 41.2% Government 60,2263 3,494 1,755 0 65,532 23.6% Corporate, Individual and Community Groups 10,098 8,352 30,687 48,668 97,805 35.2% 107,882 48,876 62,632 58,454 277,844 100.0% % OF TOTAL 38.8% 17.6% 22.5% 21.0 100.0% Receivable balances as reported on each of the previous reports to the Board are presented below: C14 FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 6. ACCOUNTS RECEIVABLE STATUS REPORT (CONTD.) February 7, 1993 The list below itemizes accounts greater than $ 1,000 included in the 90 day plus category. CLIENT NAME Total $ 90 -Plus $ February 7, 1993 277,844 58,454 December 31, 1992 816,609 89,378 November 1, 1992 630,868 58,622 September 20, 1992 501,784 141,929 July 26, 1992 371,826 126,124 May 24, 1992 526,831 171,845 February 9, 1992 750,801 125,183 November 15, 1991 1,030,971 274,131 August 25, 1991 713,007 177,335 June 30, 1991 720,531 195,593 The list below itemizes accounts greater than $ 1,000 included in the 90 day plus category. CLIENT NAME TYPE AMOUNT ARREARS INTEREST (1) AGE (DAYS) Bolton Nurseries Other 3,000.00 0.00 1001 Dominik Cuk Other 1,350.00 578.14 1001 -1022 Metro Separate School Board School 8,125.58 669.81 126 Sposa 2000 Other 1,600.00 685.19 588 Trees for Today and Tomorrow Other 40,214.07 (2) 373 -602 54,289.65 1,933.14 1. Interest not accrued prior to August 1, 1991 2. Interest not charged, as approved by Board FINANCE AND ADMINISTRATION ADVISORY BOARD #1/93, MARCH 5, 1993 C15 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 6. ACCOUNTS RECEIVABLE STATUS REPORT (CONTD.) February 7, 1993 Comments Bolton Nurseries Sent to collection agency October 17, 1991. Small claims court action commenced September, 1992. Amount written down from $4,829.76 to $3,000. Dominik Cuk Recent site visit by Authority staff has concluded that the property owner's claims with respect to the survival rate of plant material are unfounded. Small claims court action to be initiated. Metro S.S. Board Requires follow -up. Sposa 2000 Small claims court judgement received July 28, 1992. Debtor examination held January 18, 1993. Notice of motion heard February 19, 1993. Trial date to be set. Trees for Today and August 1992 - paid invoice for $2,354 with correspondence advising of Tomorrow improving financial outlook. Contacted A/R to advise of address change and that they will try to pay one of the invoices soon. NEW BUSINESS ERNST AND YOUNG Res. #F9/93 Moved by: Seconded by: Richard O'Brien Finance and Administration Advisory Board THAT the Board express appreciation to Colin Lipson, Partner, Ernest and Young for his work throughout the years. PRESENTATION ON 1993 BUDGET CARRIED Jim Dillane gave a slide presentation on the 1993 Budget. TERMINATION ON MOTION, the meeting terminated at 9:40 a.m., March 5, 1993. Richard O'Brien Chair bb. J. Crain Mather Secretary- Treasurer Working Together for Tomorrow's Greenspace the metropolitan toronto and region conservation authority minutes C16 JUNE 25, 1993 FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93 The Finance and Administration Advisory Board met in the Board Room of Black Creek Pioneer Village Visitors Centre on Friday, June 25, 1993. The Chair, Richard O'Brien, called the meeting to order at 8:30 a.m. PRESENT ABSENT MINUTES Res. #F10/93 Chair Richard O'Brien Members Brian Harrison Eldred King Peter Oyler Jim Witty Chair of the Authority William Granger Vice -Chair Patrick Abtan Members Maria Augimeri Frank McKechnie Moved by: Seconded by: THAT the Minutes of Meeting #1/93 be approved. SECTION 11 - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 1. IMPACT OF PROVINCIAL CONSTRAINT AND SOCIAL CONTRACT -1993 Budget Status KEY ISSUE Peter Oyler Brain Harrison CARRIED This report provides an update of the impact of recent actions by the Province of Ontario and the Authority's member municipalities as a result of the Expenditure Control Program and Social Contract Act. C17 FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93, JUNE 25, 1993 SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 1. IMPACT OF PROVINCIAL CONSTRAINT AND SOCIAL CONTRACT (CONTD.) -1993 Budget Status Res. #F11/93 Moved by: Seconded by: Peter Oyler Eldred King THE BOARD RECOMMENDS TO THE AUTHORITY THAT the Report on the Impact of Provincial Constraint and the Social Contract Act, dated June 22, 1993, be received; AND FURTHER THAT staff be directed to prepare a report to -:he Fair Tax Commission supporting changes to the Assessment Act and other relevant legislation to exempt conservation authority non - revenue producing lands from property taxation. CARRIED BACKGROUND As members of the Authority are aware, the Provincial Government's Social Contract Act and Expenditure Control Program have had or will have a significant impact on the Authority's 1993 and future budgets. We have provided regular updates as information became available to us. Earlier reports to the Executive Committee noted that the Authority could face expenditure reductions totalling some $2.1 million, exclusive of the Social Contract. At the direction of the Authority, we have communicated this information to the media. Staff continue to monitor activities of the province and member municipalities. This report is an update of actions to date and our understanding of future actions which may be required. ANALYSIS Expenditure Reductions To Date Appendix FA.140/93 is a list itemizing the actions taken to date by staff of the Authority as a result of the Provincial Expenditure Control Program and anticipated requirements of the Authority's member municipalities in response to reductions in their provincial funding. To date, we have committed to, or planned adjustments, totalling some $1.3 million. As noted previously, this has involved substantial reductions in Authority activities and has included significant staff reductions. The following actions are also being considered: • review of health benefits; • increased use of MNR "flex" grants; • introduction of voluntary retirement program. Requests from Member Municipalities The Municipality of Metropolitan Toronto initially requested that the Authority advise as to the implications of a 7.5% reduction to the conservation levy on Metropolitan Toronto. This amounted to about $421,000 which, when considered in relation to the levy on Peel, York, Durham, Mono and Adjala, means the Authority must reduce its overall budget by approximately $650,000. Todate, Metropolitan Toronto staff have indicated that 2% will be required to enable Metro to respond to the cutbacks in unconditional grant funding. We have received no official request from Metropolitan Toronto Council for reductions. FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93, JUNE 25, 1993 C18. SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 1. IMPACT OF PROVINCIAL CONSTRAINT AND SOCIAL CONTRACT (CONTD.) -1993 Budget Status The Regional Municipality of Peel has requested a reduction of $10,000 in the Authority's levy which represents reduction of less than 1% of the total 1993 levy on Peel region. The Regional Municipality of York has requested that the Authority staff consider a reduction amounting to $28,236 which represents a reduction of approximately 1.8% of the Authority's 1993 levy on the region. The Regional Municipality of Durham has asked that the Authority give consideration to a reduction of approximately $4,500 which represents a 1.6% reduction to the general levy on the Region of Durham. Staff has taken these requests under advisement. Until we are formally advised of the action taken by the province with respect to provincial grants and the Conservation Land Tax Rebate Program, we have not prepared a formal response for the Authority to its member municipalities with respect to these proposed reductions. We have had no communication from the Townships of Mono and Adjala. Social Contract Act A summary of the Social Contract legislation was available at the meeting. At the present time we would draw your attention to the following: • Conservation Authorities are part of the municipal sector negotiations. • While most municipalities have received payroll reduction targets (i.e., Metropolitan Toronto $68.8 million), the conservation authorities have not. • There is ongoing discussion between the Ministry of Municipal Affairs and the Ministry of Natural Resources as to how the Act will be applied with respect to conservation authorities. No direction has been given to date. • Based on the Authority's 1992 actual salaries and using a proposed reduction factor of 5 %, it is possible that the Authority would have an annual target of about $600,000. There is ongoing discussion as to how this will apply in 1993 and no firm direction has been received. • It is our assumption that the Social Contract target will be self- financing. Municipal sector negotiations are continuing during the week of June 21st and we will advise on Friday, June 25th as to any new information we have. Conservation Land Tax Rebate Prooram In the 1993 Ontario Budget, the Minister of Finance announced that the Conservation Land Tax Rebate Program ( CLTRP) was being eliminated effective in 1993. This creates a potential loss of grant revenue to MTRCA of about $782,000. There are a number of options available to the Authority to respond to this reduction in the event that it occurs. To date, we have had no official notice that the program has been cancelled and discussions have been conducted with the Minister of Natural Resources to try to have the program re- instated. Indeed Conservative MPP Bill Murdoch introduced a resolution in the Provincial Legislature supporting the reinstatement of the CLTRP and this Resolution was passed on June 17, 1993. C19 FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93, JUNE 25, 1993 SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 1. IMPACT OF PROVINCIAL CONSTRAINT AND SOCIAL CONTRACT (CONTD.) -1993 Budget Status The following options are available in the event that the program is cut: Option 1: Amend the Assessment Act It is possible to seek an amendment to the Assessment Act which would exempt Authority non - revenue producing lands from property taxation. A number of public organizations which own land, such as hospitals, are already exempt under the legislation. It may be possible to have this exemption extended retroactively to the 1993 taxation year. Failing that, funding would have to be provided for in 1993 with the hope that the legislation could be passed in 1993 for the 1994 fiscal year. Option 2: Seek Re- assessment of Authority Lands It may be possible to seek to have all of the Authority's non - revenue producing lands re- assessed at a much lower value. This might require an interpretation from the Minister of Revenue with respect to the treatment of Authority non - revenue producing lands. Staff of this Authority are meeting with staff from other Authorities to consider ways and means of achieving this. It is possible to proceed to seek re- assessment immediately as a means of putting pressure on the province to respond to our request to a change in the Assessment Act. Option 3: Further Expenditure Reductions At the moment, our expectation is that some $2.1 million in expenditure reductions will be necessary as a result of the cut -backs due to the Expenditure Control Program, the municipal response to the Municipal Expenditure Control Program and the elimination of the Conservation Land Tax Rebate. In making these reductions, it is assumed that the Authority will continue to pay the taxes on its lands which effectively means that other important expenditures of the Authority are not made. The property taxes have previously been paid by a combination of municipal levy, the Authority's own revenues, and Provincial MNR Grant. The assumption in this option that some combination of these factors would be applied to make the necessary property tax payments. Option 4: Sale of Non - Revenue Producing Lands This option has been considered by a number of Authorities where the property tax payment implications are significant. In one case, almost the entire budget of the Authority would be taken up in payment of property taxes as a result of the elimination of the grant. This is not an option that staff of this Authority would recommend. Sale of the Authority's Greenspace would represent a dramatic shift in the Authority's Land Acquisition Program and would do a great injustice to future generations for whom these lands have been acquired. Option 5: Failure to Pay The provisions of the provincial legislation regarding non - payment of taxes involve a convoluted and lengthy process before land can actually be sold for tax arrears. However, this would ultimately result in the lands being taken for failure to pay taxes and the municipality would then be in a position to dispose of the lands as they deem appropriate. In some cases, these lands have development potential and as a result this would not be a cost effective solution for the Authority. FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93, JUNE 25, 1993 C20 SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 1. IMPACT OF PROVINCIAL CONSTRAINT AND SOCIAL CONTRACT (CONTD.) -1993 Budget Status Option 6: Selective Sale of Lands It is possible for the Authority to sell selective parcels of surplus land. The revenue received from these sales would normally be placed in the Authority's Land Sale Reserve fund. The province in general has only allowed land sale revenue to be used to purchase other lands. The Authority could seek a special dispensation from the Minister of Natural Resources to use this land sale revenue to pay taxes. Option 7: Municipal Chargeback As a matter of policy, the Authority makes a levy upon the member municipality where property taxes are paid which are not covered by the Conservation Land Tax Rebate Program. This is reported in the budget as a "tax adjustment ". The Municipality of Metropolitan Toronto in its legislation has authority to exempt Authority lands from property taxation. The chargeback of 1993 taxes amounting to $782,000. would be as follows: Region of York $ 139,755 Region of Durham $344,757 Region of Peel $221,018 Township of Mono $ 3,436 Township of Adjala $ 11,229 CONCLUSION There is still a great deal of uncertainty with respect to the nature of MNR cutbacks, the implications of the Social Contract legislation and the decisions of the Authority's member municipalities in dealing with expenditure cutbacks in their areas of jurisdiction. Staff will keep the Authority advised as new information is made available. 2. APPROVAL OF ACCOUNTS - January to May 1993 KEY ISSUE Request for approval of the accounts for January to May 1993. Res. #F12/93 Moved by: Seconded by: Eldred King Jim Witty THE BOARD RECOMMENDS TO THE EXECUTIVE COMMITTEE THAT expenditures for the months of January to May of 1993, in the amount of $9,880,500., be approved. CARRIED C21 FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93, JUNE 25, 1993 SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 2. APPROVAL OF ACCOUNTS (CONTD.) - January to May 1993 BACKGROUND The Rules for the Conduct of the Authority, Section 2C, provide that the Executive Committee shall approve and authorize payment of all accounts within the approved budget of the Authority in accordance with any monetary and other limits set by the Authority. It has been our practice to include the Approval of. Accounts with the regular Financial Progress Reports. However, the Provincial Expenditure Control program and Social Contract legislation have created a great deal of uncertainty with respect to year -end projections. This has delayed the production of our regular progress reports and resulted in the Approval of Accounts being sent forward as a separate document. Details of the accounts are outlined in the table below. THE METROPOLITAN TORONTO AND REGION CONSERVATION AUTHORITY ACCOUNTS FOR THE MONTHS OF JANUARY TO MAY 1993 Expenditures for the month of January to May are as follows: Finance & Admin. (including Land Acquisition) $1,880,908 Water Resource - (excluding Waterfront) 1,622,138 Water Resource - Waterfront 441,303 Field Operations - (excluding Food Service & BCPV) 3,231,871 Field Operations - Food Service 279,985 Field Operations - Black Creek Pioneer Village 1,210,093 Program Services 651,381 Vehicle & Equipment - Capital Acq. 79,559 Special & Employment projects 483,314 $9,880,552 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 3. AUDITOR'S MEMORANDUM OF RECOMMENDATIONS KEY ISSUE Ernst & Young report and recommendations as a result of the 1992 audit. Res. #F13/93 Moved by: Seconded by: Peter Oyler Eldred King THAT the Authority's 1992 Memorandum of Recommendations dated June 11, 1993, (Appendix FA.133/93), be received. CARRIED FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93, JUNE 25, 1993 C22 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 3. AUDITOR'S MEMORANDUM OF RECOMMENDATIONS (CONTD.) BACKGROUND Each year the Authority's auditors, Ernst & Young, in the course of the examination of the Authority's financial statements look for opportunities for improvements to the Authority's internal controls. Appendix FA.133/93, the report from Ernst & Young, provides comments on opportunities for improvements. Management's response is included at the end of each recommendation. ANALYSIS Staff will take appropriate action to implement the recommendations. 4. ACCOUNTS RECEIVABLE STATUS REPORT -May 30, 1993 KEY ISSUE Staff report on accounts receivable as of May 30, 1993. Res. #F14/93 Moved by: Seconded by: Eldred King Peter Oyler THAT the report on accounts receivable of the Authority as of May 30, 1993, be received. CARRIED BACKGROUND At its meeting #3/91, the Board requested that for each of its meetings staff report on the status of the Authority's receivables. ANALYSIS The over 90 -day category at $59,207 has remained almost unchanged over the last 8 months. A number of the items have been on this list for years and are probably uncollectible. Total receivables of $429,864 are not unusually high as noted in the second schedule below. The schedule below summarizes the status of receivables including aging and classification. The schedule excludes $5,898 in accumulated interest arrears on overdue invoices. C23 FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93, JUNE 25, 1993 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 4. ACCOUNTS RECEIVABLE STATUS REPORT (CONTD.) -May 30, 1993 ACCOUNTS RECEIVABLE AGING, BY CATEGORY (Excluding Municipal Levy and MNR Grant) As of May 30, 1993 Receivable balances as reported on each of the previous reports to the Board are presented below: CURRENT 31 TO 60 DAYS 61 TO 90 DAYS 90 PLUS DAYS TOTAL February 07/93 SCHOOLS AND SCHOOL BOARDS 185,842 46,924 9,047 4,347 246,160 57.3% GOVERNMENT 47,665 4,370 24 0 52,059 12.1% CORPORATE, INDIVIDUAL AND COMMUNITY GROUPS 32,198 44,076 511 54,860 131,645 30.6% 1,030, 971 265,705 95,370 9,582 59,207 429,864 100.0% % OF TOTAL 61.8% 22.2% 2.2% 13.8% 100.0% Receivable balances as reported on each of the previous reports to the Board are presented below: Total $ 90 -Plus $ May 30/93 429,864 59,207 February 07/93 277,844 58,454 December 31/92 816,609 89,378 November 1/92 630,868 58,622 September 20/92 501,784 141,929 July 26/92 371,826 126,124 May 24/92 526,831 171,845 February 9/92 750,801 125,183 November 15/91 1,030, 971 274,131 August 25/91 713,007 177,335 June 30/91 720,531 195,593 FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93, JUNE 25, 1993 C24 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 4. ACCOUNTS RECEIVABLE STATUS REPORT (CONTD.) -May 30, 1993 The list below itemizes accounts greater than $ 1,000 included in the 90 day plus category. CLIENT NAME TYPE AMOUNT ARREARS INTEREST (1) AGE (DAYS) Bolton Nurseries Other 3,000.00 0.00 1113 Dominik Cuk Other 1,350.00 737.07 1113 -1134 Metro Separate School Board School 3,797.43 232.44 105 Sposa 2000 Other 1,600.00 (3) 145.47 700 Joanne Loyst Other 1,946.80 245.62 182 Proctor & Redfern Other 3,250.00 338.27 175 Trees for Today and Tomorrow Other 40,214.07 (2) 485 -714 55,158.30 1,698.87 1. Interest not accrued prior to August 1, 1991 2. Interest not charged, as approved by Board 3. Interest set by Court Comments Bolton Nurseries Waiting for a hearing or trial in Small Claims Court. Individual consents to judgement against his incorporated company but denies any personal liability. Dominik Cuk Recent site visit by Authority staff has concluded that the property owner's claims with respect to the survival rate of plant material are unfounded. Small Claims Court action to be initiated. Metro S.S. Board "Cheque is in the mail ". Sposa 2000 Small Claims Court judgement received July 28, 1992. Debtor examination held January 18, 1993. Notice of Motion heard February 19, 1993. Hearing held June 14, 1993. Trial date to be set. To expedite matters offer will be made at 51,400. Joanne Loyst Individual had been on a payment schedule. Two payments have been returned NSF. Will take legal action if account not up -to -date by 25.06.93. Proctor & Redfern Apparent mix -up as to whether Metro Toronto or this company should pay for archaeological services. Proctor & Redfern now advise they will issue cheque by June 30, 1993. Trees for Today and Tomorrow Sent new request for payment on May 12, 1993. C25 FINANCE AND ADMINISTRATION ADVISORY BOARD #2/93, JUNE 25, 1993 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 5. VOLUNTARY EARLY RETIREMENT INCENTIVE KEY ISSUE Authorization to offer a voluntary early retirement incentive package to eligible employees of the Authority. Res. #F15/93 Moved by: Seconded by: THAT the Board consider the above item in closed session. The board rose from closed session. Res. #F16/93 Moved by: Seconded by: Brian Harrison Jim Witty Brian Harrison Jim Witty CARRIED THAT the Authority and the Ontario Municipal Retirement System enter into agreement to execute a Type 7 Supplementary Downsizing Agreement that will permit retirement incentives until January 4, 1994. AND FURTHER THAT staff be directed to offer a Voluntary Early Retirement Incentive package to eligible employees of the Authority. TERMINATION ON MOTION, the meeting terminated at 9:30 a.m., June 25, 1993. Richard O'Brien J. Crain Mather Chair Secretary- Treasurer bb. CARRIED Working Together for Tomorrow's Greenspace erthe metropolitan toronto and region conservation authority y minutes C26 JULY 23, 1993 FINANCE AND ADMINISTRATION ADVISORY BOARD #3/93 The Finance and Administration Advisory Board met in the Board Room of Black Creek Pioneer Village Visitors Centre on Friday, July 23, 1993. The Chair, Richard O'Brien, called the meeting to order at 8:30 a.m. PRESENT ABSENT MINUTES Res. #F17/93 Chair Richard O'Brien Vice Chair Patrick Abtan Members Maria Augimeri Brian Harrison Eldred King Frank McKechnie Jim Witty Chair of the Authority William Granger Members Peter Oyler Moved by: Seconded by: THAT the Minutes of Meeting #2/93 be approved. CORRESPONDENCE Brain Harrison Jim Witty CARRIED Letter from D. Hearse, Regional Clerk, York Region, dated July 19, 1993, re: 1993 Provincial Budget and Expenditure Control Plan. C27 FINANCE AND ADMINISTRATION ADVISORY BOARD #3/93, JULY 23, 1993 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 1. 1994 BUDGET GUIDELINES KEY ISSUE The 1994 Budget Guidelines are presented for Authority approval. Res. #F18/93 Moved by: Seconded by: Eldred King Jim Witty THE BOARD RECOMMENDS TO THE AUTHORITY a 1994 nE.^ expenditure target set at approximately $1.7 million below the 1993 approved budget; THAT the sharing of costs under the municipal recreation funding formula in effect for 1993 be continued for 1994; AND FURTHER THAT staff report back on sharing recreation costs for 1995 and beyond. CARRIED BACKGROUND In order to meet various deadlines for providing financial information to our funding partners and to provide sufficient lead time for negotiating 1994 funding it is necessary to provide staff with the budget guidelines and to commence the 1994 budget process. ANALYSIS Expenditure Target With so much uncertainty still persisting about 1993 funding levels, it is very difficult to begin considering the 1994 budget. While it appears we have a Social Contract savings target, there is no confirmation of actual MNR transfer payments. The ACAO continues to press for some relief from the proposed elimination of the Conservation Land Tax Rebate Program. However, our member municipalities require budget information as early as the beginning of November. Therefore, the process must begin now. Staff are recommending that the 1994 Net Expenditure Budget be set at S1 .7 million below the 1993 level, or approximately at $19.6 million gross. This is an 8% reduction from the approved 1993 gross Budget. Recreation Funding Formula Discussions have been held with staff of our member municipalities. Since a number of concerns have been expressed, it is recommended that the 1994 apportionment percentages be those used for 1993. Staff will report on the implementation of the formula for 1995 at an appropriate time. Timetable July 23 Guidelines to Finance and Administration Advisory Board August 27 Authority to consider guidelines October 15 * Finance and Administration Advisory Board to consider Preliminary Estimates October 22 Preliminary Estimates presented to full Authority * Note change from October 1, 1993 FINANCE AND ADMINISTRATION ADVISORY BOARD #3/93, JULY 23, 1993 C28 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 2. 1993 FINANCIAL PROGRESS REPORT DEFERRAL KEY ISSUE This report advises members about the lack of adequate financial information to prepare the regular Financial Progress Report. Res. #F19/93 Moved by: Seconded by: William Granger Brian Harrison THE BOARD RECOMMENDS TO THE AUTHORITY THAT the report dated July 19, 1993, with respect to the lack of information to prepare regular financial progress reports, be received. CARRIED ANALYSIS A communication from the Executive Director of the Association of Conservation Authorities of Ontario, dated July 16, 1993, relating to the latest information on provincial transfer payments was available at the meeting. Essentially, the province has yet to release information on 1993 grants to Conservation Authorities and it would appear that this information will not be forthcoming at least until August. Lack of provincial grant information means that staff of the Authority is unable to adequately project year -end financial progress and to advise the members of the status of expenditures in relation to revenue. As the members were advised in our report on Expenditure Control Implications, which was discussed at the June 25th meeting of the Board, the Authority's member municipalities are also considering and, in some cases, have made requests for reductions to the 1993 MTRCA levy. Until we have the provincial grant information and specific requests from all member municipalities, we cannot adequately evaluate the variance between 1993 approved budget and expenditures to date. As noted in our report on 1994 budget guidelines, the members should be aware of our expectation that the 1993 approved budget will be reduced by approximately $1.7 million which will result in final expenditures of approximately $19.6 million as opposed to $21.3 million approved by the Authority in March of this year. We are working toward this target and have every expectation that this will be achieved. The Authority's own revenues from admissions, sales, etc., are on target and when we confirm the municipal and provincial contributions to our revenue base, staff will report to the Board in the usual manner. C29 FINANCE AND ADMINISTRATION ADVISORY BOARD #3/93, JULY 23, 1993 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 3. SOCIAL CONTRACT -Local Plan KEY ISSUE Proposed Local Plan for MTRCA employees under the Social Contract Act, 1993. Res. #F20/93 Moved by: Seconded by: William Granger Jim Witty THE BOARD RECOMMENDS TO THE AUTHORITY THAT staff be directed to proceed with the implementation of the Local Plan, Appendix AM.8/93, in accordance with the proposals put forward. SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 4. WRITE -OFF OF OUTSTANDING ACCOUNTS - Bolton Nurseries KEY ISSUE The report recommends the write -off of the unpaid amount due from Bolton Nurseries. Res. #F21/93 Moved by: Seconded by: CARRIED Marie Augimeri William Granger THE BOARD RECOMMENDS TO THE EXECUTIVE COMMITTEE THAT the account receivable of Bolton Nurseries in the amount of 54,829.76, plus arrears interest, be written off. CARRIED BACKGROUND The Accounts Receivable Policy of the Authority requires that write -offs in excess of $2,500, including arrears interest, be approved by the Executive Committee on the recommendation of the Finance and Administration Advisory Board. FINANCE AND ADMINISTRATION ADVISORY BOARD #3/93, JULY 23, 1993 C30 SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 4. WRITE -OFF OF OUTSTANDING ACCOUNTS (CONTD.) - Bolton Nurseries ANALYSIS The invoice for the sale of plant materials was originally issued in the spring of 1990 in the amount of $4,829.76. The amount was reduced to S3,000 and small claims court action was commenced in 1992. On July 8, 1993, staff were present for the trial of this action. Due to a technicality the case was disposed in favour of the defendant. FINANCIAL DETAILS In 1992 when the account was reduced from $4829.76 to $3,000, a provision for $ 1,929.76 was set up. The impact on the 1993 accounts is $3,000 Tess a $357.76 provincial sales tax recovery. NEW BUSINESS MEETING DATE OF NEXT FINANCE AND ADMINISTRATION ADVISORY BOARD MEETING A poll of the members of the Board will be taken at a later date to insure a quorum can be met for the October 15, 1993 meeting date. TERMINATION ON MOTION, the meeting terminated at 9:45 a.m., July 23, 1993. Richard O'Brien Chair bb. J. Craia Mather Secretary- Treasurer Working Together for Tomorrow's Greenspace erthe metropolitan toronto and region conservation authority y minutes C31 OCTOBER 22, 1993 FINANCE AND ADMINISTRATION ADVISORY BOARD #4/93 The Finance and Administration Advisory Board met in the Humber Room, Head Office, on Friday, October 22, 1993. The Chair, Richard O'Brien, called the meeting to order at 8:00 a.m. PRESENT Chair Richard O'Brien Vice Chair Patrick Abtan Members Maria Augimeri Eldred King Peter Oyler Jim Witty Chair of the Authority William Granger ABSENT Members Frank McKechnie Brian Harrison MINUTES Res. #F22/93 Moved by: Seconded by: THAT the Minutes of Meeting #3193 be approved. Jim Witty Patrick Abtan CARRIED C32 OCTOBER 22, 1993, FINANCE AND ADMINISTRATION ADVISORY BOARD #4/93 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 1. 1994 PRELIMINARY ESTIMATES - Operating and Capital KEY ISSUE The Finance and Administration Advisory Board is asked to review and recommend the 1994 Preliminary Estimates. Res. #F23/93 Moved by: Seconded by: Peter Oyler Maria Augimeri THE BOARD RECOMMENDS TO THE AUTHORITY THAT the 1994 Preliminary Estimates, Operating and Capital (Appendix FA.159/93), be approved; AND FURTHER THAT representatives of the Authority, including the Chair of the Finance and Administration Advisory Board and staff, meet with officials of the Authority's municipal and provincial funding partners, to present and discuss the Authority's 1994 Preliminary Estimates prior to submission of the final budget. CARRIED BACKGROUND The Authority's 1994 budget process has become far more complex as a result of action taken by the Provincial Government in the Spring of 1993. General uncertainty and delays in announcements relating to the 1993 provincial grants, have resulted in delays to the normal preliminary estimates preparation process. Also, the Authority's municipal funding partners have changed their own budget processes, all of which have contributed to a delay in bringing the preliminary estimates before the Board. ANALYSIS A summary of the key issues relating to the 1994 budget process is contained in the document entitled Chief Administrative Officer's Comments (Appendix FA.206/93). 2. MUNICIPAL PARTNERS' 1993 EXPENDITURE CONTROL REDUCTION PROGRAMS KEY ISSUE The Authority's municipal funding partners have requested that the Authority cooperate and assist them in their Expenditure Control Program reductions. FINANCE AND ADMINISTRATION ADVISORY BOARD #4/93, OCTOBER 22, 1993 C33 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 2. MUNICIPAL PARTNERS' 1993 EXPENDITURE CONTROL REDUCTION PROGRAMS (CONTD.) Res. #F24/93 Moved by: Seconded by: Jim Witty Eldred King THE BOARD RECOMMENDS TO THE AUTHORITY THAT The Metropolitan Toronto and Region Conservation Authority cooperate with those member municipalities who have requested assistance in their respective Expenditure Reduction Programs. CARRIED BACKGROUND As a result of the Provincial Expenditure Control Program implemented in the Spring of this year, in addition to the direct grant reduction by the Ministry of Natural Resources, the Authority has been advised by its member municipalities of their wish that the Authority reduce its funding requirements in 1993. The following requests have been received: Municipality 1993 Reduction Metropolitan Toronto $278,000. Regional Municipality of Peel $10,000. Regional Municipality of York $38,061. We have received no request from the Townships of Mono and Adjala and the Region of Durham. ANALYSIS Staff have considered the implications of assisting our member municipalities during a time when there have been significant cutbacks as a result of provincial actions and believe it is appropriate that the Authority support its member municipalities in meeting the expenditure control requirements. Until the provincial grants from the Ministry of Natural Resources were announced in September of 1993, staff were uncertain as to the full implications of meeting our members municipalities' requests. The cutbacks in the provincial funding are significant for the Authority since the Ministry of Natural Resources grant was reduced considerably more than the municipal unconditional grants. Staff, in analysing the 1993 financial results, believe that we can accommodate the requests of our member municipalities. The third quarter financial progress report is dealt with as Item 4 of this Finance and Administration Advisory Board agenda. C34 OCTOBER 22, 1993, FINANCE AND ADMINISTRATION ADVISORY BOARD #4/93 SECTION I - ITEMS FOR AUTHORITY CONSIDERATION 3. RECORDS RETENTION POLICY & SCHEDULE - October 8, 1993 Revision KEY ISSUE The Conservation Authority's Records Retention Schedule is updated on a regular basis. Res. #F25/93 Moved by: Seconded by: William Granger Eldred King THE BOARD RECOMMENDS TO THE AUTHORITY THAT the Records Retention Policy & Schedule (Appendix FA.143/93), as revised October 8, 1993, be approved. CARRIED BACKGROUND The Authority's Records Retention Policy and Schedule is,reviewed on a regular basis to ensure that the files and records are being dealt with appropriately. This update of the Policy and Schedule, provides for no changes to the Records Retention Policy itself. The changes outlined in the summary section concern the Records Retention part of the Policy. The summary is self explanatory. SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 4. 1993 FINANCIAL PROGRESS REPORT NO. 1 AND APPROVAL OF ACCOUNTS FROM JUNE TO SEPTEMBER, 1993 KEY ISSUE This is the first Financial Progress Report submitted for 1993 covering the period of January 1, 1993 to October 3, 1993, together with a request for approval of the accounts from June to September, 1993. Res. #F26/93 Moved by: Seconded by: Patrick Abtan Jim Witty THAT the 1993 Financial Progress Report No. 1, dated October 3, 1993 (Appendix FA.193/93), be received; FINANCE AND ADMINISTRATION ADVISORY BOARD #4/93, OCTOBER 22, 1993 C35 SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 4. 1993 FINANCIAL PROGRESS REPORT NO. 1 AND APPROVAL OF ACCOUNTS FROM JUNE TO SEPTEMBER, 1993 (CONTD.) AND FURTHER THE BOARD RECOMMENDS TO THE EXECUTIVE COMMITTEE THAT expenditures for the months of June to September, 1993, in the amount of $17,951,708. be approved. AMENDMENT Moved by: Jim Witty Res. #F27/93 Seconded by: William Granger THAT staff report back to the Finance and Administration Advisory Board on the measures being taken to address the falling revenues of Black Creek Pioneer Village. THE AMENDMENT WAS CARRIED THE MAIN MOTION, AS AMENDED, WAS CARRIED BACKGROUND As part of the Authority's ongoing Financial Management Program, staff provides regular Financial Progress Reports which describe activities to date as measured against the 1993 approved budget. The Financial Progress Report provides a projection to year -end of expenditure and revenues. No other report has been issued previously due to the high level of uncertainty regarding funding. Also included in this report is a request for approval of accounts for the period indicated. ANALYSIS In the text of the Financial Progress Report, are comments by Authority staff explaining significant variances which have been identified. Financial Progress Report No. 1 projects a deficit of $68,200., primarily attributable to reductions in provincial and municipal funding. An appropriate plan of action is currently under consideration. C36 OCTOBER 22, 1993, FINANCE AND ADMINISTRATION ADVISORY BOARD #4/93 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 5. ACCOUNTS RECEIVABLE STATUS REPORT - October 3, 1993 KEY ISSUE Staff report on accounts receivable as of October 3, 1993. Res. #F28/93 Moved by: Seconded by: Patrick Abtan Jim Witty THAT the report on accounts receivable of the Authority as 6:. October 3, 1993, be received. CARRIED BACKGROUND At its meeting #3/91, the Board requested that for each of its meetings staff report on the status of the Authority's receivables. ANALYSIS The schedule below summarizes the status of receivables including aging and classification. The schedule excludes $4,563. in accumulated interest arrears on invoices outstanding for more than 30 days. ACCOUNTS RECEIVABLE AGING, BY CATEGORY As of October 3, 1993 (Excluding Municipal Levy and MNR Grant) Total receivables have remained virtually unchanged from the amount reported May 30, 1993. The increase in the 90 -day plus category is attributable to an amount due from the Metro Separate School Board. This receivable is deemed collectable. The most significant account in the 90 -day plus category belongs to Trees For Today and Tomorrow (TTT) at $40,214.07. Since our correspondence went unanswered, and, as directed by the Board, staff placed the account with a collection agency. TTT and the collection agency are in the process of renegotiating payment terms. Staff is recommending that legal action be deferred in anticipation of satisfactory negotiations being completed. CURRENT 31 - 60 DAYS 61 - 90 DAYS 90 PLUS DAYS TOTAL % SCHOOLS & SCHOOL BOARDS 151,652 44,728 530 27,029 223,939 51.9 GOVERNMENT 72,710 633 12,379 4,859 90,581 21.0 CORPORATE, INDIVIDUAL & COMMUNITY GROUPS 69,873 1,031 2,634 43,327 116,865 27.1 TOTAL 294,235 46,392 15,543 75,215 431,385 100.0 % OF TOTAL 68.3 10.7 3.6 17.4 100.0 Total receivables have remained virtually unchanged from the amount reported May 30, 1993. The increase in the 90 -day plus category is attributable to an amount due from the Metro Separate School Board. This receivable is deemed collectable. The most significant account in the 90 -day plus category belongs to Trees For Today and Tomorrow (TTT) at $40,214.07. Since our correspondence went unanswered, and, as directed by the Board, staff placed the account with a collection agency. TTT and the collection agency are in the process of renegotiating payment terms. Staff is recommending that legal action be deferred in anticipation of satisfactory negotiations being completed. FINANCE AND ADMINISTRATION ADVISORY BOARD #4/93, OCTOBER 22, 1993 C37' SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 5. ACCOUNTS RECEIVABLE STATUS REPORT (CONTD.) - October 3, 1993 Receivable balances as reported on each of the previous reports to the Board are presented below: DATE Total $ 90 -Plus $ October 3, 1993 431,385 75,215 May 30, 1993 429,864 59,207 February 07, 1993 277,844 58,454 December 31, 1992 816,609 89,378 November 1, 1992 630,868 58,622 September 20, 1992 501,784 141,929 July 26, 1992 371,826 126,124 May 24, 1992 526,831 171,845 February 9, 1992 750,801 125,183 November 15, 1991 1,030,971 274,131 August 25, 1991 713,007 177,335 June 30, 1991 720,531 195,593 The list below itemizes accounts greater than $1,000 included in the 90 day plus category. CLIENT NAME TYPE AMOUNT ARREARS INTEREST AGE (DAYS) Town of Markham Gov't 4,809.84 500.61 154 Metro Separate School Board School 25,298.54 2,770.18 97 -231 Sposa 2000 Other 1,600.00 (1) 145.47 826 Joanne Loyst Other 1,646.80 327.79 308 St. Frances De Sales C.S. School 1,154.53 95.16 147 Trees for Today and Tomorrow Other 40,214.07 (2) 611 -840 74,723.78 3,839.21 (1) Interest set by court (2) Interest not charged, as directed by Board C38 OCTOBER 22, 1993, FINANCE AND ADMINISTRATION ADVISORY BOARD #4/93 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 5. ACCOUNTS RECEIVABLE STATUS REPORT (CONTD.) - October 3, 1993 Comments Town of Markham Payment is expected by October 20, 1993. Metro S.S. Board Payment is expected shortly. Sposa 2000 Small claims court judgement received July 28, 1992. Debtor examination held January 18, 1993. Notice of motion heard February 19, 1993. Hearing held June 14, 1993. Trial date set for December 9, 1993. Joanne Loyst Account sent to collection agency. Trees for Today and Collection agency is renegotiating payment terms. Tomorrow NEW BUSINESS It was agreed that the next meeting of the Finance and Administration Advisory Board would be held on November 26, 1993, in the Board Room of Black Creek Pioneer Village, at 8:30 a.m., prior to the Authority Meeting. TERMINATION ON MOTION, the meeting terminated at 9:00 a.m., October 22, 1993. Richard O'Brien J. Craia Mather Chair /b. Secretary- Treasurer Working Together for Tomorrow's Greenspace the metropolitan toronto and region conservation authority minutes C39 NOVEMBER 26, 1993 FINANCE AND ADMINISTRATION ADVISORY BOARD #5/93 JOINT MEETING The Finance and Administration Advisory Board and the Executive Committee met in the Humber Room, Head Office, on Friday, November 26, 1993. The Chair, William Granger called the meeting to order at 9:45 a.m. PRESENT ABSENT Chair Richard O'Brien Vice Chair Patrick Abtan Members Maria Augimeri Brian Harrison Eldred King Peter Oyler Jim Witty Chair of the Authority William Granger Members Frank McKechnie SECTION I1 - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION PERSONNEL ITEMS Res. #E197/93 Res. #F32/93 Moved by: Seconded by: Brian Harrison Paul Palleschi THAT the Executive Committee and the Finance and Administration Advisory Board consider two confidential personnel items in closed session. CARRIED The board rose from closed session. C40 NOVEMBER 26, 1993, FINANCE AND ADMINISTRATION ADVISORY BOARD #5/93 . PERSONNEL ITEMS (CONTD.) Res. #E198/93 Res. #F33/93 Moved by: Seconded by: Lois Hancey Peter Oyler THAT Resolution #E194/93 #F29193, Resolution #E195/93 #F30/93 and Resolution E196/93 #F31/93, as adopted in closed session, be ratified. TERMINATION ON MOTION, the meeting terminated at 10:30 a.m., November 26, 1993. William B. Granaer J. Craia Mather CARRIED Chair Secretary- Treasurer /bb. c. Working Together for Tomorrow's Greenspace QPthe metropolitan toronto and region conservation authority minutes C41 JANUARY 28, 1994 FINANCE AND ADMINISTRATION ADVISORY BOARD #6/93 The Finance and Administration Advisory Board met in the Board Room, Black Creek Pioneer Village, on Friday, January 28, 1994. The Chair, Richard O'Brien called the meeting to order at 9:30 a.m. PRESENT Chair Richard O'Brien Members Eldred King Frank McKechnie Chair of the Authority William Granger ABSENT Members Patrick Abtan Maria Augimeri Brian Harrison Peter Oyler Jim Witty MINUTES Res. #F34/93 Moved by: Seconded by: THAT the Minutes of Meeting #4/93 and Meeting #5/93, be approved. CORRESPONDENCE Eldred King Frank McKechnie CARRIED City of Scarborough recommendation embodied in Report No. 2 of the Administrative and Finance Committee adopted as amended by Scarborough Council at its meeting held on January 5, 1994. Res. #F35/93 Moved by: Seconded by: Eldred King William Granger THAT staff report back to the Finance and Administration Advisory Boafd on the item. CARRIED C42 JANUARY 28, 1994, FINANCE AND ADMINISTRATION ADVISORY BOARD 116/93 SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 1. STATUTORY RESOLUTIONS FOR THE 38TH ANNUAL MEETING KEY ISSUE The Authority is required to adopt statutory resolutions relating to the appointment of auditors and the borrowing of money. Res. #F36/93 Moved by: Seconded by: Frank McKechnie Eldred King THE BOARD RECOMMENDS TO THE EXECUTIVE COMMITTEE THAT the following resolutions be approved and recommended to the 38th Annual Meeting of the Authority: a) Appointment of Auditors THAT Ernst and Young, Chartered Accountants be appointed as auditors of the Authority for the year 1994; b) Borrowing Resolution - 1994 THAT the Authority may borrow from the Royal Bank of Canada or the Authority's member municipalities or other institutions as may be specifically approved by the Authority up to the sum of TEN MILLION DOLLARS ($10,000,000) on the promissory note or notes of the Authority until payment to the Authority of any grants and of sums to be paid to the Authority by participating municipalities designated as such under the Conservation Authorities Act R.S.O. 1990, Chapter 27, at such rate of interest as the Minister of Natural Resources approves; THAT the amount borrowed pursuant to this resolution, together with interest, be a charge upon the whole of the monies received or to be received by the Authority by way of grants etc. and when such monies are received, and of sums received or to be received by the Authority from the participating municipalities as and when such monies are received; THAT the signing officers of the Authority are hereby authorized to take such action as may be necessary to give effect thereto. CARRIED BACKGROUND Each year the Authority is required to adopt statutory resolutions relating to the appointment of auditors and the borrowing of money. The Authority's Rules of Conduct, Section XV111, Banking and Borrowing, require that the borrowing of money by the Authority shall be authorized by a resolution of the Authority. The appointment of an auditor is required pursuant to Section 38 of the Conservation Authorities Act. Staff of the Authority is satisfied with the performance and services of the firm of Ernst & Young and support their appointment as the Authority's auditors for 1994. FINANCE AND ADMINISTRATION ADVISORY BOARD #6/93, JANUARY 28, 1994 C43 SECTION II - ITEMS FOR EXECUTIVE COMMITTEE CONSIDERATION 2. FREEDOM OF INFORMATION ANNUAL REPORT KEY ISSUE The Authority is required to report annually to the Information and Privacy Commissioner of Ontario on Freedom of Information requests. Res. #F37/93 Moved by: Seconded by: William Granger Eldred King THE BOARD RECOMMENDS TO THE EXECUTIVE COMMITTEE THAT the annual report on Freedom of Information Requests, dated January 19th, 1994, be received. CARRIED BACKGROUND Each year the Conservation Authority must report to the Information and Privacy Commissioner of Ontario with respect to all requests received pursuant to the Municipal Freedom of Information and Protection of Privacy Legislation. ANALYSIS In 1993, the Conservation Authority received a total of six requests under the Municipal Freedom of Information and Protection of Privacy Act. All of these requests related to general record information as opposed to personal information. Three requests were received from individuals, two from businesses and one from an association. All the requests were dealt with within the time frames provided for in the legislation. The information requested was disclosed in total in three cases. In one case, the information requested did not exist and in two cases, the requests were withdrawn. Three notices were sent regarding third party interest in the information and the possibility of exemptions. In all cases after consultation the information was released or the applicant withdrew the request. In two cases, the Authority provided copies of records and collected fees totalling $40.00. In two cases, fees were waived because the cost of copying was very modest. A complete statistical report on the activities of the Authority relating to the Municipal Freedom of Information and Protection of Privacy Legislation will be forwarded to the Information and Privacy Commissioner. C44 JANUARY 28, 1994, FINANCE AND ADMINISTRATION ADVISORY BOARD #6/93 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 3. ACCOUNTS RECEIVABLE STATUS REPORT - December 31, 1993 KEY ISSUE Staff report on accounts receivable as of December 31, 1993. Res. #F38/93 Moved by: Seconded by: Eldred King Frank McKechnie THAT the report on accounts receivable of the Authority as of December 31, 1993, be received. CARRIED BACKGROUND At its meeting #3/91 the Board requested that for each of its meetings staff report on the status of the Authority's receivables. ANALYSIS The schedule below summarizes the status of receivables including aging and classification. The schedule excludes $6,857 in accumulated interest arrears on invoices outstanding for more than 30 days. ACCOUNTS RECEIVABLE AGING, BY CATEGORY (Excluding Municipal Levy and MNR Grant) As of December 31, 1993 CURRENT 31 TO 60 DAYS 61 TO 90 DAYS 90 PLUS DAYS TOTAL % SCHOOLS AND SCHOOL BOARDS 447,464 37,481 3,227 13,290 501,462 58.4 GOVERNMENT 112,585 84,526 5,244 115 202,470 23.6 CORPORATE, INDIVIDUAL AND COMMUNITY GROUPS 23,529 70,234 6,272 54,408 154,443 18.0 TOTAL 583,578 192,241 14,743 67,813 858,375 100.0 % OF TOTAL 68.0 22.4 1.7 7.9 100.0 FINANCE AND ADMINISTRATION ADVISORY BOARD +6/93, JANUARY 28, 1994 C45 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 3. ACCOUNTS RECEIVABLE STATUS REPORT (CONTD.) - December 31, 1993 Total receivables have remained virtually unchanged from the amounts reported one year ago, December 31, 1992. It is not unusual for balances to be higher around year -end, than at any other time of the year, as many projects are completed and final billing occurs. The most significant account in the 90 -day plus category is Trees For Today and Tomorrow (TTT) at $39,420. Staff is recommending that legal action be deferred in anticipation of satisfactory negotiations being completed between TTT and our collection agency. In October 1993, TTT paid $ 1,000 on its account. The amounts due from Metro Separate School Board and Green Diamond Day Camp are deemed collectible. Receivable balances as reported on each of the previous reports to the Board are presented below: DATE Total $ 90 -Plus $ December 31, 1993 858,375 67,813 October 3, 1993 431,385 75,215 May 30, 1993 429,864 59,207 February 07, 1993 277,844 58,454 December 31, 1992 816,609 89,378 November 1, 1992 630,868 58,622 September 20, 1992 501,784 141,929 July 26, 1992 371,826 126,124 May•24, 1992 526,831 171,845 February 9, 1992 750,801 125,183 November 15, 1991 1,030,971 274,131 August 25, 1991 713,007 177,335 June 30, 1991 720,531 195,593 C46 JANUARY 28, 1994, FINANCE AND ADMINISTRATION ADVISORY BOARD #6/93 SECTION IV - ITEMS FOR THE INFORMATION OF THE BOARD 3. ACCOUNTS RECEIVABLE STATUS REPORT (CONTD.) - December 31, 1993 The list below itemizes accounts greater than $ 1,000 included in the 90 day plus category. CLIENT NAME TYPE AMOUNT ARREARS INTEREST AGE (DAYS) Metro Separate School Board School 12,619.60 1,592.12 194 Sposa 2000 Other 1,600.00 .i 1) 145.47 915 Green Diamond Day Camp Other 10,193.97 623.94 96 Falby, Burnside and Associates Other 1,500.00 156.12 152 Joanne Loyst Other 1,646.80 483.50 397 Trees for Today and Tomorrow Other 39,420.07 (2) 700 -929 66,980.44 3,001.15 1. Interest set by court 2. Interest not charged, as directed by Board COMMENTS Metro S.S. Board Payment is expected shortly. MTRCA is withholding payment to MSSB for same amount. Sposa 2000 Judgement received Dec. 9, 1993. Waiting for debtor examination date. Green Diamond Day Camp Falby, Burnside & Associates Joanne Loyst Trees for Today and Tomorrow TERMINATION Paid $6,000 early January 1994. Balance expected by end of January. Amount in dispute. We will probably send to collection agency. Account sent to collection agency. $30 paid January, 1993. Collection agency is renegotiating payment terms. $1,000 paid in October 1993. ON MOTION, the meeting terminated at 10:00 a.m., January 28, 1994. William B. Granuer J. Crain Mather Chair /bb. Secretary- Treasurer